Last updated: October 2026 · 7 min read
The State Pension is a regular payment from the government once you reach State Pension age. It isn't means-tested and isn't based on how much you earned — it's based on your National Insurance record, built up through years of working (or receiving certain benefits or credits, such as time spent caring for children).
It's a foundation, not a full retirement income on its own. As we covered in our guide to how much you need to retire, even the full amount falls well short of what most people would consider a comfortable, or even minimum, standard of living.
| State Pension type | Full weekly amount | Full annual amount |
|---|---|---|
| New State Pension (reached State Pension age from 6 April 2016) | £241.30 | £12,548 |
| Basic State Pension (reached State Pension age before 6 April 2016) | £184.90 | £9,615 |
These figures rise most years under the "triple lock" — a guarantee that the State Pension increases each April by whichever is highest: average earnings growth, inflation, or 2.5%. For 2026/27, earnings growth of 4.8% was the highest of the three, so that's the rise that was applied.
To get the full new State Pension, you typically need 35 qualifying years of National Insurance contributions or credits. Fewer years gives you a proportionally smaller amount, and you generally need at least 10 qualifying years to get anything at all. If you were contracted out of the additional State Pension at any point (common in older workplace pension schemes), your starting amount may be adjusted — this is one of the more confusing parts of the system, and it's genuinely worth checking your own forecast rather than assuming.
State Pension age is rising from 66 to 67, in stages between April 2026 and April 2028, so right now it depends on exactly when you were born. A further rise to 68 is scheduled between 2044 and 2046. Your own State Pension age depends on your date of birth — it's not automatically the age you retire from work, and the two often don't line up.
Yes — the State Pension counts as taxable income, it's just usually paid without tax already deducted. At £12,548 a year, the full new State Pension sits just below the personal tax-free allowance of £12,570. But that allowance has been frozen since 2021 and is set to stay frozen until 2031, while the State Pension keeps rising with the triple lock. That means it's a matter of time before the full State Pension alone pushes past the tax-free threshold — and if you have any other income at all (a workplace pension, savings interest, part-time earnings), that combined total is very likely already above it, meaning some tax is due.
You can choose to defer claiming your State Pension past your State Pension age, which increases the amount you eventually receive — currently by roughly 1% for every 9 weeks you delay, equivalent to just under 5.8% for a full year's deferral. Whether that's worthwhile depends heavily on your own health, other income, and how long you expect to live — it's a genuinely personal decision, not a rule of thumb that suits everyone.
If your National Insurance record has gaps, you may also be able to pay voluntary contributions to fill them and boost your eventual State Pension — this can be excellent value in the right circumstances, but the rules on how far back you can pay are specific and worth checking properly rather than guessing.
Rather than estimating from the figures above, you can get your own personal forecast — showing your actual qualifying years, any gaps, and your predicted amount — directly from the government's own service at gov.uk/check-state-pension. It takes a few minutes and is the only way to know your real number rather than a rough estimate.
The figures above are national averages — your own forecast (from gov.uk) tells you exactly what you're on track to receive, and any gaps worth filling.
Check your forecast on gov.uk →Once you know your State Pension forecast, Time to Retire's full planning tool shows how it combines with your pensions, ISAs and savings — with real UK tax modelling — to tell you whether you're actually on track.
Try the free demo →A sample household, no sign-up. Or see the features and screenshots.
The State Pension is a genuine, valuable foundation — inflation-protected and guaranteed for life — but for almost everyone, it's the floor of a retirement plan, not the whole plan. Knowing your real forecast, and understanding how it fits alongside everything else you're building, is the difference between hoping it's enough and actually knowing.
This guide is for general information only and is not financial advice. Figures are based on published 2026/27 DWP rates and are correct as of July 2026 — the triple lock means they change most years, so always check gov.uk/check-state-pension for your own current forecast. Time to Retire is a software tool, not a financial adviser, and is not authorised or regulated by the FCA. For advice specific to your circumstances, consult a qualified independent financial adviser.
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